U.K. illustrated book publisher the Quarto Group reported revenue of $176.3 million for 2013, a slight decline from the $180.9 million reported in 2012. Profits before taxes increased slightly to $11.5 million and its debt decreased to $71 million from the $81 million reported in 2012.
The company also announced a new Brazilian joint venture, the creation of Books & Gift Direct in Australia and New Zealand and a rebranding of Quarto publishing divisions. Quarto announced a joint agreement with the Grupo Noble, a subsidiary of Brazil Franchising, that will give the company access to the $2.4 billion Brazilian publishing market. Quarto will supply adult illustrated nonfiction titles to Grupo Nobel under the Quarto Editora imprint.
The company announced the creation of Books & Gifts Direct, a new display marketing business focused on Australia and New Zealand, created by the consolidation of Lifetime Distributors and Premier Books, which previously operated in those markets. The new company will launch in March and specializes in nonbook items.
The company has also rebranded its publishing divisions with some receiving new names and a new visual identity. The rebranding applies to: Quarto International Co-Editions Group (unchanged), Quarto Publishing Group UK (formerly Aurum Publishing Group), Quarto Publishing Group USA (formerly Quayside Publishing Group). The Quarto Group will also be represented by a new logo.
Quarto CEO Marcus Leaver said “overall” financial results for 2013 showed “a solid performance, even with challenging circumstances in Australia and New Zealand, proving how robust our portfolio is. A stronger, more coherent Quarto has emerged from the initial phase of the Strategic Review. We shall continue to target further improvement to allow Quarto to reduce debt and grow earnings in 2014 and beyond.”